10x Research: Bitcoin ETFs See $15 Billion Net Inflows Since Mid-April as Trump Pressures Fed, Fueling Bullish Market Sentiment

According to ChainCatcher, citing a report from CoinDesk, Markus Thielen, founder of 10x Research, noted in a client report on Thursday that since late April 2025, inflows into Bitcoin ETFs have surged, mainly due to pressure on the Federal Reserve from figures such as Trump. Trump has publicly called on Chairman Powell to cut interest rates to 1% and resign, while Federal Housing Finance Agency Director Bill Pulte and Senator Cynthia Lummis have also urged Powell to step down. Meanwhile, minutes from the Fed’s July meeting show growing divisions among officials over policy. Continued ETF inflows and mounting pressure for rate cuts have forced previously hesitant traders back into the market, fueling a resurgence in bullish momentum for cryptocurrencies.

Thielen stated that since mid-April, Bitcoin ETFs have purchased $15 billion worth of Bitcoin, with buying activity uninterrupted. This steady demand is compelling traders to re-enter the market. Combined with July’s seasonal performance and macro catalysts, the market still supports further upside.